Definition: The European harmonised tax data policies refer to a set of regulations and guidelines that standardize the collection, processing, and exchange of tax-related information among European Union member states. These policies aim to ensure transparency, facilitate cross-border cooperation, prevent tax evasion and fraud, and promote fair competition within the single market. They encompass various types of taxes, including income tax, corporate tax, value-added tax (VAT), and excise duties. The harmonisation is achieved through various directives, regulations, and administrative cooperation agreements, which require member states to align their national tax laws and practices with the common European standards. Source: EIRA team Additional information: The European harmonised tax data policies refer to a set of regulations and directives that aim to standardise and streamline the collection, processing, and sharing of tax-related data across the member states of the European Union (EU). This policy is designed to ensure transparency, fairness, and efficiency in the taxation system within the EU, while also protecting the privacy and data rights of taxpayers. The policy mandates that all member states adopt a uniform approach to tax data management, including the types of data collected, the methods of collection, and the formats in which the data is stored and shared. This includes data related to income tax, corporate tax, value-added tax (VAT), and other forms of taxation. Under the policy, tax authorities in each member state are required to share tax-related data with their counterparts in other member states. This is to prevent tax evasion and fraud, and to ensure that individuals and businesses are paying the correct amount of tax in the countries where they earn income or conduct business. The policy also stipulates that tax data must be processed in a way that respects the privacy and data protection rights of individuals and businesses. This includes ensuring that data is stored securely, that it is only accessed by authorised personnel, and that it is not used for purposes other than taxation. Furthermore, the policy encourages the use of digital technologies to improve the efficiency and accuracy of tax data collection and processing. This includes the use of electronic filing systems, digital tax forms, and automated data analysis tools. The European harmonised tax data policies are enforced by the European Commission, which has the power to take legal action against member states that fail to comply with the regulations. The policy is also subject to regular reviews and updates to ensure that it remains effective and relevant in the face of changing economic and technological conditions. Example: 1. Value Added Tax (VAT): The European Union (EU) has a harmonised policy for VAT, which is applied to all goods and services that are bought and sold for use or consumption in the EU. The standard VAT rate varies from 15% to 25% depending on the member state. 2. Excise Duties: The EU has harmonised tax policies for certain types of goods such as alcohol, tobacco, and energy products. These goods are subject to excise duties, which are indirect taxes on their consumption. The rates of these duties vary among member states. 3. Corporate Tax Base: The Common Consolidated Corporate Tax Base (CCCTB) is a single set of rules that companies operating within the EU can use to calculate their taxable profits. It's designed to make it easier for companies to comply with tax laws in different member states. 4. Financial Transaction Tax (FTT): Some EU member states have agreed to implement a harmonised FTT. This tax is levied on the purchase and sale of financial instruments such as stocks, bonds, and derivatives. 5. Digital Services Tax (DST): The EU has proposed a DST, which would be a 3% tax on the revenues of certain digital businesses. This tax would apply to companies with total annual worldwide revenues of €750 million or more and EU revenues of €50 million or more. 6. Carbon Pricing: The EU has a harmonised policy for taxing carbon emissions, known as the Emissions Trading System (ETS). This system sets a cap on the total amount of certain greenhouse gases that can be emitted by factories, power plants, and other installations. Companies receive or buy emission allowances, which they can trade with one another. LOST view: SV-Data Policy Catalogue Identifier: http://data.europa.eu/dr8/egovera/EuropeanHarmonisedTaxDataPoliciesBusinessObject EIRA traceability: eira:DataPolicyBusinessObject ABB name: egovera:EuropeanHarmonisedTaxDataPoliciesBusinessObject EIRA concept: eira:ArchitectureBuildingBlock Last modification: 2023-07-27 dct:identifier: http://data.europa.eu/dr8/egovera/EuropeanHarmonisedTaxDataPoliciesBusinessObject dct:title: European Harmonised Tax Data Policies Business-object